MAM
Zomato-Blinkit deal: all one needs to know
Mumbai: Restaurant aggregator and food delivery company Zomato’s proposal to acquire quick commerce player Blinkit (formerly Grofers) will come up for board approval on 17 June 2022, when the company’s board meets to sign-off on the acquisition.
The deal estimated at $700 million has likely dropped in valuation, stripping the online grocery firm of its prized unicorn status earned last year.
The development emerged two months after reports on the merger deal via share-swap appeared. While the outlines of the deal are still being worked out, Zomato will acquire the shares of the quick commerce startup in an all-stock deal. As per the proposal, Blinkit investors will gain proportionate shares in the listed entity that amounts to a little less than 10 per cent stake in Zomato.
Softbank Vision Fund, the largest investor in Blinkit, is expected to come away with nearly four per cent stake in the food-tech company if the deal is closed.
Once the board gives its approval, Zomato may not need the Competition Commission of India’s (CCI) nod to acquire the Softbank-backed startup, as it plans to make use of an exemption called ‘de-minimis’, which applies to companies of a certain size.
In August 2021, Zomato received CCI’s go ahead for a $100 million investment in Blinkit for little over nine per cent stake.
In its third quarter earnings call earlier in February, Zomato management said that it is aggressively growing in the quick commerce segment and will invest $400 million over the next two years in the category.
Later in March, Blinkit signed a merger agreement with the food aggregator company. Speculations of the deal were doing the rounds in the news since Zomato first invested in the startup. The latest developments coincide with reports of Blinkit laying off staff and delaying vendor payments due to a cash crunch.
The 10-minute grocery delivery market is expected to grow 15 times to reach $5.5 billion by 2025, as per consultancy firm RedSeer. Zomato has attempted to enter this space twice, dropping its plans due to the uncertainty caused by the pandemic. This latest move helps it gain ground over its arch-rival Swiggy.
Both food aggregators – Zomato and Swiggy – had diversified into grocery delivery as a natural extension of food delivery, by launching the service on their existing apps. While Swiggy continues to offer its Instamart service, Zomato withdrew from grocery deliveries in September 2021 after burning cash to the tune of several millions. Its investment in Blinkit helps it reach scale in the quick commerce sector.
There is no shortage of startups trying to be associated with the promise of quick delivery with players like Dunzo and Zepto in the mix. However, it was Blinkit (Grofers) that pioneered the 10-minute grocery delivery model.
MAM
DS Group expands climate strategy with full emissions audit
FY25 GHG inventory across Scope 1, 2, 3 to guide decarbonisation push.
MUMBAI: Going green is no longer a side note, it’s moving onto the balance sheet. DS Group has sharpened its climate strategy, announcing a comprehensive greenhouse gas (GHG) inventory for FY 2024–25 that will map emissions across Scope 1, Scope 2 and key Scope 3 categories, covering everything from direct operations to supply chain activity.
Timed with Earth Day, the move signals a shift from broad sustainability commitments to data-led execution. By identifying where emissions are concentrated, the company aims to move towards targeted interventions rather than incremental fixes.
The audit spans direct emissions, purchased energy and upstream supply chain inputs areas often harder to quantify but increasingly critical to corporate climate strategies. The objective is to pinpoint the biggest emission drivers and embed climate considerations into everyday decision-making, from operations to expansion plans.
Aligned with India’s updated Nationally Determined Contributions (NDCs), the roadmap centres on three pillars: decarbonisation, resource efficiency and responsible growth. This includes accelerating renewable energy adoption to reduce product carbon intensity, alongside integrating circular economy practices to improve water and material use.
A notable element of the strategy is its focus on indirect impact. By working with supply chain partners on sustainable sourcing, the company is attempting to address emissions beyond its immediate control, an area where many corporate plans still fall short.
Internally, the push is backed by governance metrics that include zero regulatory non-compliance, no product recalls linked to quality issues, 100 per cent pay parity and zero data breaches indicators the company positions as part of its broader sustainability framework.
Going forward, all major investments will be assessed through a climate-risk lens, signalling a tighter integration of environmental considerations with business growth.
In an industrial landscape where sustainability often sits at the margins, the DS Group’s approach suggests a recalibration treating climate not as a compliance box, but as a core operating principle shaping how the business grows.
